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5226 Stowe Derby Drive Charlotte, NC 28278

3 Beds 2 Baths 1,643 sqft Built 2002

$275,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $167.38
  • 3 Days on Market
  • MLS # : 3682898
  • Updated Date : 12/11/2020 at 21:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,643 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Charlotte one-story cul-de-sac home offers a two-car garage. This home is vacant and cleaned regularly.

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MARKET HIGHLIGHTS

  • Corporate Fortune 500 headquarters: Bank of America, Lowe’s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, Domtar
  • #3 fastest-growing big city in US with more than 15,000 people added in 2017 (US Census, 2018)
  • Charlotte metro has 65.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Charlotte attracted more than $325 million in capital investments in 2018Q2 (Meckelenburg county, June 2018)
  • Charlotte metro's economy is worth $181 billion in Gross Metro Product and projected to grow to $192 billion in 2019 (USMayors.org, 2018)
  • #1 Millenial Moving destination city (Smart Asset)

PRICE & RENT TRENDS

Neighborhood: Dixie - Berryhill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k283k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Dixie - Berryhill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8421595

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Berewick Elementary School Primary Regular 601 38 6
Kennedy Middle School Middle Regular 722 43 4
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Berewick Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 38
6
GreatSchools Rating

Kennedy Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 43
4
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,015
Property Tax -$240
Property Insurance -$58
HOA -$38
Property Management Fees -$119
CASH FLOW
$71

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$24,011

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,540

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,544

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5953$1,6004$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 5226 Stowe Derby Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.94
    •  
  • 10617 Candlestick Court Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,736 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,736 Sqft ∙ Built 2009
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 11402 Chapeclane Road Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2004
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
  • 4800 Spruce Peak Road Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2005
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 7202 Strawberry Fields Lane Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,714 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,714 Sqft ∙ Built 2016
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy